March 04, 2005

UA College Savings Plan Sponsors 2005 Jr. Iditarod

The University of Alaska College Savings Plan will award $11,000 in scholarships to finishers of the 2005 Jr. Iditarod, set to begin at 10 a.m. Saturday in Wasilla.

The 160-mile race from Wasilla to Yentna Station Roadhouse and back was launched in 1975 as a training ground for 14- to 17-year-old mushers from Alaska, the Lower 48 and Europe interested in distance dog racing. It starts the weekend before the 1,000-mile Iditarod Trail Sled Dog Race from Anchorage to Nome.

Linda English, UA College Savings Plan program director, will present the scholarships at the awards banquet in Wasilla Sunday. All scholarships will be invested as accounts in the UA College Savings Plan. First-, second-, and third-place winners will receive awards in the amounts of $5,000, $2,500, andá 1,500, respectively. Two additional scholarships of $1,000 each will be awarded for sportsmanship and humanitarianism.

“The Jr. Iditarod is a premiere event that celebrates the strength and accomplishments of the youth of Alaska,” English said. “The University of Alaska College Savings Plan is committed to furthering the educational opportunities for Alaskans. We’re really proud to sponsor this great event.”

This is the third year the UA College Savings Plan has sponsored the Jr. Iditarod. The UA program is lined up to sponsor the 2006 race as well.

The UA College Savings Plan is designed to give families a head start toward saving for college by allowing parents or other family members to save for future education expenses in a taxdeferred account. Distributions from the plan are also tax-free when used for qualified expenses. Investments in the plan can be used at any eligible college or university nationwide. T. Rowe Price Associates, Inc. is investment adviser and program manager for the plan.